Profile of Larry Tabb

Founder & CEO, TABB Group

Blog Posts: 158

Larry Tabb is the founder and CEO of TABB Group, the financial markets' research and strategic advisory firm focused exclusively on capital markets. Founded in 2003 and based on the interview-based research methodology of "first-person knowledge" he developed, TABB Group analyzes and quantifies the investing value chain from the fiduciary, investment manager, broker, exchange and custodian, helping senior business leaders gain a truer understanding of financial markets issues. Larry has published industry research analyzing ECNs; fixed income, equity and foreign exchange trading systems; back-office trade processing systems; broker workstations; analytical trading tools; infrastructure development tools; and foreign and emerging market technologies. He has written extensively on the changing market structure, exchanges and regulatory issues and business continuity as well as new technology trends in cost management, risk management, order management, best execution, algorithmic trading, dark pools, multi- and cross-asset trading, liquidity management, FIX, STP, connectivity, custody and advances in emerging technologies.

9/20/2012
In his testimony before the US Senate on Thursday, the Advanced Trading and Wall Street & Technology columnist Larry Tabb answers the question: What, if any, policy changes should be considered by regulators or Congress in order to better protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation?
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9/20/2012
In his testimony before the US Senate today, the Advanced Trading and Wall Street & Technology columnist Larry Tabb answers the question: Do regulators have adequate tools to identify and limit manipulative or abusive strategies?
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8/14/2012
Many market participants are saying we need to go back to simpler times, when spreads were wider, trading was slower, markets were simpler, research was more prevalent, and capital was more pervasive. But would that really fix the equity markets?
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8/6/2012
Fragmentation is wrecking one of the greatest financial markets of all time, according to Tabb Group’s Larry Tabb. In the wake of the Knight Capital fiasco, he says, the SEC should think hard about the market structure it has created, and do its utmost to rein it in.
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5/21/2012
The more-robust capturing, reporting and clearing of FX forwards, NDFs and swaps should be counted as one of the more positive aspects created by the Dodd-Frank process, says Tabb Group CEO Larry Tabb.
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4/30/2012
The recently passed Jumpstart Our Business Startups Act is about more than jobs. The new regulation is likely to drive consolidation among asset managers, and small hedge funds are in danger of being forced out of the game.
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1/12/2012
To restore investor faith in the futures market, the CFTC may need to do more than just update the rules that govern the investing of customer cash, says Larry Tabb, founder of Tabb Group.
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1/5/2012
Volume at the close is way up, and retail investors are nowhere to be seen. Sometimes a sick market needs strong medicine. In this case, it could be a one-hour trading day, says Tabb Group founder Larry Tabb.
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11/15/2011
While we in the United States believe Dodd-Frank and new SEC regulations are challenging, the European sentiment on the MiFID Review makes the U.S. regulatory proposals look downright friendly.
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10/4/2011
The investing world is bifurcating into two camps: those generating alpha and seeking uncorrelated returns, and those focusing on beta and capturing index- based returns. Which camp you are in makes all the difference in the world.
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8/2/2011
What a difference a few months make. Are exchanges headed for world domination, or will governments stop their local exchanges from becoming the trinkets of a global exchange aggregation scheme?
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7/6/2011
The rule has an implementation period that potentially could stretch to 11 years, starting with a two-year rule-writing allowance, followed by a two-year implementation period, three one-year extensions, and
finally a four-year gradual extended transition for illiquid securities funds and/or products.
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6/27/2011
While the business case for cloud computing is compelling, availability is a concern, and Wall Street firms are likely to keep to private clouds for transactional infrastructure, writes Larry Tabb.
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3/9/2011
CFTC commissioner Bart Chilton recently proposed a bold idea: Exchanges and regulators should test trading algorithms before they go to market and perhaps award them a "Good Housekeeping Seal of Approval" before launch.
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8/17/2010
To secure their infrastructure and processes, Wall Street firms have built up castle walls around their data for years. But electronic trading is creating cracks in those walls.
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6/28/2010
When the speed of the price provider and the price taker are not in parity, the market becomes inefficient and seemingly unfair. We can mandate slower markets, a wider quote or faster technologies, or hold market professionals accountable and let competition run its course.
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5/7/2010
May 6, 2010 saw a complete meltdown of liquidity in a five-minute period of time and whether it was caused by high frequency trading or the lack thereof or it was an algos-gone-wild moment or was caused by a trader fat-fingering an order, we need to get to the bottom of this - and fast.
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9/2/2009
If we don't do something to shine a light on market practices, such as high-frequency trading and flash orders, and prove their value, many may just get regulated out of existence.
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1/22/2009
As legislators take aim at Wall Street, the industry must seize the opportunity to work with regulators to create guidelines that will benefit everyone, says Special Contributing Editor Larry Tabb.
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1/21/2009
The Obama Administration walked into one of the most turbulent financial markets since the Great Depression. What can President Obama do to not only stop the slide, but also turn the economy around?
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9/26/2008
As debate over the $700 billion bailout continues, Larry Tabb, CEO of TABB Group, comments on the need for "bipartisan, unambiguous and morally steadfast leadership ... not a group of folks fiddling around while Rome burns"
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7/21/2008
From ownership structures to price formulation to liquidity access, all dark pools are somewhat different, and firms need to understand the unique benefits, challenges and opportunities of trading in each venue.
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6/23/2008
In addition to the excitement in the U.S., the real focus is occurring in Europe, where the EC is trying to get the fragmented clearing and settlement infrastructure players to play nicely in the sandbox.
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4/17/2008
In some regards, nothing has changed in the fixed-income trading space to warrant electronic trading. On the other hand, however, everything has changed, signaling that the time may be right for e-trading.
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4/14/2008
A shaky economy and the defibrillation of many fixed-income products provide fertile ground for automated trading, fixed-income ECNs and exchanges -- as well as opportunities for those willing to take some calculated risk.
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3/12/2008
The need for increasingly intelligent smart routing is being driven by a more complex execution environment as smart routers of the future will need to be increasingly flexible and multifunctional.
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2/1/2008
Most think of price when thinking of liquidity. But price can be subjective. How long it takes to execute, how definitive the execution is and the probability that the price will change before execution also are key factors.
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1/22/2008
The modern data center must be crafted with regard to resource consumption so financial firms can obtain enough power to efficiently manage data, analyze the markets and route orders.
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12/12/2007
The NYSE specialist may soon be eliminated and replaced with designated market makers. But whether these new market intermediaries are effective and profitable is questionable.
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11/26/2007
As buy side brokers decrease the number of brokers they use, sell siders are placing new demands on the buy side. One is send more of your flow to us or risk losing our top tier services.
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9/11/2007
The Boston Equities Exchange (BEX) became the first regional exchange to throw in the towel, but the Boston Stock Exchange (BSX) isn't down for the count, says Special Contributing Editor Larry Tabb.
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8/22/2007
Until high-speed, low-latency technology becomes easier to acquire, install and integrate, there are going to be many disappointed vendors.
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7/27/2007
Customers seem to want open execution platforms, but multibroker execution platforms still fail to attain widespread adoption. Fortunately, we are starting to see the multibroker platform pushing forward.
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7/2/2007
Unless details are settled quickly, the integration could put new and renewal agreements on hold, as clients do not often transition to a platform scheduled for sunset or put their faith in a team that may not be there next month.
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3/23/2007
Finding another large acquisition target may be difficult for Nasdaq as the pickings are slim, but there are some interesting options the exchange could consider other than the LSE.
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3/19/2007
Global is where it's at. The balance of trade, interest rates, economic growth and global expansion all are sending payments from high-wage Western countries to lower-wage emerging markets and Eastern countries.
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2/27/2007
Does the apparent death of the Nasdaq-LSE deal spell doom for the transatlantic duo? Are Nasdaq and the London Stock Exchange shark bait, or is this one more step in a chess match being staged on a global scale?
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1/29/2007
Getting regulation right is like balancing on a knife's edge - tilt too far one way and the industry is hamstrung; tilt too far the other way and reduce the trust that is required for a functioning capital market.
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1/23/2007
The SEC's vote to reduce the impact of Sarbanes-Oxley by reducing audit and sign-off requirements on firms' financial controls is a positive step, but will it bring back growth to the U.S.'s financial markets?
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